Chamber Finance

Four steps to better cash flow

The real value of many businesses is often tied up in stock and unpaid invoices. This can have an adverse impact on cash flow and place restrictions on a business's ability to grow. Here we outline how Invoice Finance can help in four easy steps...

1. Approval - To help you avoid late payment or bad debts, Chamber Invoice Finance will approve any new customers and advise if they are capable of paying for your goods or services. We use up to six sources of information to assess your customers and recommend sensible trading limits. In the majority of cases, the limits are approved quickly - usually within 48 hours - and you can make unlimited enquiries for customers in the UK and abroad. You can also make requests for approval online 24/7.
2. Funding - Chamber Invoice Finance is designed to make funds available quickly from the sales you make. But simply, for a charge, the service lets you draw up to 90% of the value of your invoices as soon as they are received by our systems, and the remaining 10% once your customer has settled the invoice in full. Interest on any advance payments is charged on a daily basis and is linked to the UK base rates.
3. Credit Control - Some customers choose to only use our approval and funding services, but where our service really comes into its own, is to help chase payments of invoices. Getting paid quickly increases your cash flow and gives your business flexibility. We have a 60 strong team of credit controllers who can track what hasn't been paid and can speed up payment on your behalf. We can also use legal services in the event that customers delay payment.
4. Protection - While you always hope your invoices will be paid fully, there is a risk - particularly in the current climate - that your customers may not be able to pay. Some businesses can absorb small bad debts if their sales are well spread, but it helps to be protected. Our dedicated team keeps close to your customers and can protect you from bad debts. This could extend to 100% of any loss in the event of formal insolvency of your customer.

Next Steps

For your free no obligation assessment please contact the membership team on 01952 208200 or email enquiries@shropshire-chamber.co.uk